JuE Wong, the chief executive officer of Olaplex, has exited the beleaguered hair care company, as announced yesterday (October 13). Amanda Baldwin, the former CEO of Supergoop, will succeed Wong in January. In the meantime, John Bilbrey, the company’s executive chair of the board, will serve as CEO.
Bilbrey expressed his enthusiasm for Baldwin’s appointment, highlighting her expertise in growing prestige beauty brands and her deep understanding of consumer insights and analytics. He believes her strengths in marketing, product development, and execution make her the perfect fit to position Olaplex for long-term success.
Prior to joining Supergoop, Baldwin served as a senior vice president at investment fund L Catterton, focusing on the beauty sector. She also led Dior Beauty’s omnichannel marketing strategy and held various positions at Clinique.
Baldwin sees significant potential in helping Olaplex fulfill its full potential by strengthening relationships with stylists, retailers, and consumers through innovative product offerings, compelling storytelling, and a dynamic global omnichannel strategy.
Wong, who joined Olaplex in 2020 from Moroccanoil, expressed her gratitude for leading the company through significant moments during her tenure. She praised the team, partners, creators, and professional stylists for their contributions to Olaplex’s success. Wong remains a loyal and committed champion of the brand and looks forward to witnessing the brand’s future accomplishments.
Olaplex, a company that entered the public market with an initial public offering in 2021, has revised its net sales forecast for fiscal year 2023. The new projection anticipates net sales to fall within the range of $445 million to $465 million. This figure is around $144 million lower than the company’s previous forecast.